Cooper currently has a Zacks Rank #3 (Hold). Image Source: Zacks Investment Research Zacks Rank & Key Picks Shares of the company have climbed 4.4% in the past year against the 18.3% fall of the industry. Cooper, which is currently at 4.9%, lower than the industry average of 16.5%. The latest deal is likely to enhance returns on equity for Mr. In the first quarter, COOP’s Servicing UPB increased 7% year over year to $853 billion. It intends to provide a friction-free experience to customers following the acquisition. The company looks forward to providing service to Home Point’s high-valued borrowers with high FICO scores. Cooper’s servicing portfolio with Home Point’s $84 billion portfolio.ĬOOP’s Servicing unit, which caters to the growing customer base, generated an adjusted pre-tax profit of $157 million in the first quarter. The latest deal is in line with this strategy and is expected to enhance Mr. The company focuses on reducing concentration risks, enabling it to generate lucrative risk-adjusted returns. The move is expected to boost COOP’s customer base, which was at 4.1 million in the first quarter. Cooper is expected to shut down the acquiree’s remaining operations. After the Home Point customers are onboarded and the deal concludes, Mr. The deal is expected to close in the third quarter of this year. It will likely serve as a low-cost funding source. Per the deal, the acquirer is expected to assume Home Point’s outstanding 5% senior notes, which are due in February 2026. ( COOP Quick Quote COOP - Free Report) agreed to acquire Home Point Capital Inc.’s ( HMPT Quick Quote HMPT - Free Report) all outstanding shares for around $324 million in cash.
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